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Question;1);Which of the following does not result in a decision rendered by the hearing;officer?;A.;Arbitration;B.;Mediation;C.;Med-arb;D.;Using expert evaluators;2);Jurisprudence is defined as;A.;adjudication of law suits;B.;the enactment of laws by a government body;C.;the science and philosophy of law;D.;the duties and obligations owed by a citizen;3);The state of Kansas has enacted a new law requiring all commercial trucks;driving on Kansas roads to have special mud flaps installed. These mud flaps;have been proven to make driving in the rain significantly safer due to reduced;mist created by trucks driving in the rain, although data regarding accidents;and injuries has not yet been determined. Any truck entering Kansas must have;these flaps installed or will be subject to a significant fine and delay. The;cost for purchase and installation of these flaps is $1,000 per truck. In;short, trucks must have these flaps or go around the state. This Kansas law;A. is valid because it only applies to Kansas roads and such a law is entirely;intrastate;B.;is valid because Kansas's right to protect its citizens under its police powers;will override any outside challenges to this law;C.;is invalid because this law is intended to regulate interstate commerce, an;enumerated federal power;D.;is invalid because although on its face it's an intrastate law, this statute;will have a significant economic effect on interstate commerce causing an undue;burden;4);The power of preemption is derived from;A.;the power of judicial review;B.;the Commerce Clause;C.;the Necessary and Proper Clause;D.;the Supremacy Clause;5);What is the main problem with international courts?;A.;Finding judges who understand the complexities of international law;B.;Creating a body of law that reflects multiple legal systems;C.;Enforcing a ruling on sovereign nations is difficult;D.;Lack of recognition from the U.N. and WTO;6);Under the U.S. legal system, subject to some exceptions, costs of litigation;regarding both the plaintiff and defendant;A.;are all paid by the loser;B.;are all paid by the winner;C.;are paid for by each side with the plaintiff and defendant paying for their own;legal costs;D.;are totaled by the court and then for fairness, split in half with each side;paying an equal amount;7);Generally, torts law is governed by;A.;state statutory law;B.;state common law;C.;federal statutory law;D.;constitutional law;8);Assumption of risk is a defense to;A.;conversion;B.;negligence;C.;defamation;D.;battery;9);The three stripes on Adidas clothing represents a;A.;trademark;B.;trade dress;C.;trade secret;D.;patent;10);The color or shape of an item, if distinctive, is a;A.;trademark;B.;trade dress;C.;copyright;D.;patent;11);Cybersquatting describes the practice of;A.;registering multiple domain names and then selling them back to companies at;inflated prices;B.;hacking into a company's website to install a virus or Trojan horse designed to;steal information but allow the site to continue operation;C.;using mechanical devises to access a company's website multiple times to the;point that traffic to the site is slowed or blocked;D.;hacking into a company's website to install a virus designed to cause the;company's website to totally cease operation;12);The Digital Millennium Copyright Act (1998) provided each of the following;protections EXCEPT;A.;manufacturers of CD-Writers were required to pay 2% of their sales into a fund;to be distributed to copyright holders because the CD-Writers could easily copy;music and other copyrighted works;B.;civil and criminal penalties were established for those who sell or manufacture;products or services that circumvent antipiracy software;C.;restrictions were placed on analog recorders and camcorders that lack;antipiracy features;D.;ISPs were relieved of liability for copyright infringement by their users as;long as the ISP had no knowledge of the infringement;13);When Maria comes home from work, she finds that her yard has been mowed and;trimmed. An hour later, a man comes to her door to collect payment for the yard;work. Maria refuses to pay him because she has never seen him before nor had;she hired him to do the work. Which of the following is accurate?;A.;This is an implied, unilateral contract, so she must pay.;B.;Maria has received unjust enrichment so a quasi contract is formed, so she must;pay.;C.;The court would make Maria pay the reasonable cost of the work to be fair to;both parties.;D.;Maria would not have to pay anything.;14);Where a promise can only be accepted by the performance of the person to whom;it is offered is an example of a/an;A.;bilateral contract;B.;unilateral contract;C.;implied contract;D.;quasi contract;15);Each of the following is a discharge by mutual consent EXCEPT;A.;accord and satisfaction;B.;novation;C.;rescission;D.;frustration of purpose;16);Harry sees an AK-47 automatic assault rifle in a gun shop window. He inquires;about the price and is told that it is $2,500. Harry signs a contract promising;to pay the $2,500 on Friday, taking possession of the rifle when payment is;made. On Thursday, a law is enacted making the ownership, sale, or possession;of an automatic rifle illegal. This contract;A.;automatically terminates due to impossibility;B.;automatically terminates due to impracticability;C.;automatically terminates due to frustration of purpose;D.;is enforceable and not affected by the new law because it was entered into;before the law took effect;17);Which of the following is rarely awarded in contracts cases?;A.;Consequential damages;B.;Compensatory damages;C.;Punitive damages;D.;Liquidated damages;18);Which of the following is classified as an equitable remedy?;A.;Consequential damages;B.;Reformation;C.;Restitution;D.;Liquidated damages;19);Which of the following would not be considered tangible?;A.;A car;B.;Oxygen;C.;The right of ownership;D.;The pen or pencil you are using;20);With regard to consideration in a sales contract, the UCC differs from the;common law in that;A.;consideration in a sales contract may be modified without additional;consideration;B.;consideration exchanged must be equal or very closely equal in sales contracts;C.;consideration is not required in sales contracts;D.;consideration in a sales contract may be modified as long as additional;consideration is provided;21);The UCC will permit an incomplete or slightly ambiguous contract to be enforced;using each of the following criteria EXCEPT;A. past commercial conduct;B.;industry standards or norms;C.;judicial input of any terms necessary to maintain fairness;D.;correspondence or verbal exchanges between the parties;22);Two merchant companies have entered into a contract for the sale of goods but;have had no prior dealings, which would establish a course of conduct between them.;The UCC will allow gap fillers to apply to their contract regarding missing;terms in each of the following situations EXCEPT;A.;they have failed to specify when payment for the goods is to be made;B.;they have failed to specify where delivery of the goods is to be made;C.;they have failed to specify the quality or grade of the goods to be delivered;D.;they have failed to specify the price of the goods to be delivered;23);When a buyer rejects nonconforming goods and purchases the appropriate goods;from a different seller, this is an example of which of the following;A.;Cover;B.;Specific Performance;C.;Lawsuit for Money Damages;D.;Revoking Acceptance;24);Which of these is not a requirement for disclaiming a warranty?;A.;Statutory authorization;B.;A conspicuous writing;C.;Explaining why the warranty is being disclaimed;D.;Including the word merchantability if merchantability is to be disclaimed;25);What if everyone took these same actions" is a question sometimes;called the;A.;universalization approach;B.;utilitarian approach;C.;functionality approach;D.;morality approach;26);The utilitarian approach to moral philosophy was founded by;A.;Jeremy Bentham;B.;Immanuel Kant;C.;Cicero;D.;Kenneth Lay;27);Stan is an investment manager. He has received money from various investors;with a promise of very high returns on their investments. The invested money is;not supplying enough capital in order to pay the returns promised, so he has;started using new investor's money to pay older investors. By advertising and;by word of mouth, people are anxious to invest with Stan because of the money;being paid, and with the influx of new investors, he is able to continue;operating. Stan is;A.;operating an insider trading operation;B.;racketeering;C.;guilty of conspiracy to defraud;D.;operating a Ponzi scheme;28);Ben is the manager of a branch of a large bank. He has regularly taken money;from customer's accounts for his own use and changed the bank records to cover;his actions. Ben is guilty of;A.;a conspiracy;B.;a Ponzi scheme;C.;racketeering;D.;embezzlement;29);The Sarbanes-Oxley Act (2002) imposed stricter regulations on how corporations;do business through regulations in each of the following areas EXCEPT;A.;tax compliance;B.;financial reporting;C.;corporate governance;D.;auditing;30);Joan is the CFO of Para Corp. and is a year from retirement. In order to;guarantee herself a very substantial bonus and to boost her retirement package;she knowingly certifies false financial reports making the company appear to be;much more profitable than it really is. She further takes steps to assure that;the financial report was not reviewed through internal controls maintained by;Para Corp. Under the provisions of the Sarbanes-Oxley Act (2002), if her fraud;is NOT part of a larger scheme, what criminal penalties are possible for Joan?;A.;$1 million in fines and up to 10 years in prison;B.;$2 million in fines and up to 12 years in prison;C.;$5 million in fines and up to 15 years in prison;D.;$10 million in fines and up to 20 years in prison


Paper#58814 | Written in 18-Jul-2015

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